Japan's Astellas Pharma sold its dermatology business to Danish specialty product firm LEO in a deal that will free up cash from a unit that analysts have long said is non-core and which follows a high profile move this week to splash out $379 million to buy U.S-based regenerative ophthalmology biotech Ocata Therapeutics.
Japan's Astellas Pharma said it is paying $379 million in case to buy Ocata Therapeutics, a biotechnology cmpany that specializes in regenerative drugs to treat macular degeneration, according to a report by the Boston Globe.
Astellas Pharma has stepped up with a $379 million bid for Ocata Therapeutics, a pioneering--and often controversial--stem cell company that has managed to survive a years-long roller coaster ride through the hype, hope and disappointments of the past decade.
Astellas Pharma and Japan university researchers say they have succeeded with preclinical work showing that induced pluripotent stem cells are capable of improving the symptoms of kidney failure.
Astellas Pharma is teaming up with biotech Immunomic Therapeutics on a vaccine that could relieve a common allergy that affects millions in its native Japan.
A group of independent FDA advisers voted in favor of a new anti-infective from Astellas Pharma, setting the stage for a likely approval.
Astellas has capped a string of new drug development deals by upping the ante on its pact with South San Francisco-based Cytokinetics. After handing over a $40 million upfront fee for their original 2013 deal, Astellas has come back with $75 million more in near-term financing and more than $600 million in milestones on the table.
Just weeks ago Astellas teamed up with Harvard's Constance Cepko on a new program for a degenerative eye disease. Today it inked a deal with Proteostasis Therapeutics that could be worth up to $1.2 billion while getting Dana-Farber investigators to help hunt down new cancer drugs that can inhibit K-Ras.
In the midst of an unprecedented dealmaking spree that has produced $139 billion in pharmaceutical mergers this quarter alone, one country has been conspicuously absent: Japan. Even such giants as Astellas Pharma and Takeda Pharmaceutical, which have led M&A runs in Japan in the past, have stayed on the sidelines. Why?
Medivation and Astellas Pharma unveiled final results on primary and secondary efficacy endpoints from their Phase III PREVAIL trial of Xtandi (enzalutamide), showing that the drug delayed tumor growth and prolonged the lives of patients with metastatic prostate cancer who previously have not undergone chemotherapy.